HK shares hit one-year low, China dips as Meituan soft outlook weighs

Pedestrians walk past the Exchange Square complex which houses the HKEX. —Bloomberg

HONG KONG: Hong Kong stocks slumped to a one-year low on Wednesday, while China shares also closed lower, as food delivery giant Meituan's cautious fourth-quarter outlook raised recovery concerns over China's consumer spending.

The blue-chip CSI 300 Index dropped nearly 1%, while the Shanghai Composite Index was down 0.6%.